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U.S. President Barack Obama will propose giving the government power to reject increases on health-insurance premiums, an administration official said. The proposal would allow the secretary of the Health and Human Services Department to deem a premium hike excessive and block its implementation. The administration official said the measure is similar to a bill introduced by Sen. Dianne Feinstein, D-Calif., after Anthem Blue Cross of California announced a premium increase of as much as 39%.

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U.S. President Barack Obama said a $1.5 billion aid package will attempt to slow down residential foreclosures in five states that have suffered the most from the housing crisis. The money will be given to Arizona, California, Florida, Michigan and Nevada. "The goal is to target communities at the center of the crisis, and to empower local agencies who know these communities best to structure and tailor their programs in ways that are most responsive," Obama said.

Currency traders are betting that the euro's decline against the U.S. dollar will continue, even if Greece receives a rescue from the EU. Interest rates on euro-denominated short-term borrowing by traders, measured against dollar loans, are at their lowest since September, meaning lenders and borrowers expect the euro to drop further.

A commission charged by U.S. President Barack Obama with recommending ways to balance the budget by 2015 brings more bipartisanship to the table than anybody has seen recently, according to The Economist. But that might be the panel's only strong point because it has no way of ensuring that its proposals will ever make it to Congress. The committee "will make recommendations that may not ever be voted on -- and if they are, may be amended to death first," The Economist notes. "Americans (not just "tea partiers") are learning to fear deficits, but most still seem to hate tax rises and spending cuts even more."

Christine Lagarde, finance minister for France, said the market of sovereign credit default swaps needs stricter regulation. "The sovereign CDS market is a narrow one, with few players," Lagarde said. "It's a market that needs better regulation." Lagarde also said the eurozone's debt issues are partially because of speculation.

President Barack Obama will propose giving the government power to reject increases on health-insurance premiums, an administration official said. The proposal would allow the secretary of the Health and Human Services Department to deem a premium hike excessive and block its implementation. The administration official said the measure is similar to a bill introduced by Sen. Dianne Feinstein, D-Calif., after Anthem Blue Cross of California announced a premium increase of as much as 39%.